INTERTAINMENT MEDIA RESPONDS TO POYNT CORP.’S CRED
INTERTAINMENT MEDIA RESPONDS TO POYNT CORP.’S
CREDITOR PROTECTION FILING
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO U.S.
NEWSWIRE SERVICES
TORONTO, CANADA - July 6, 2012 – Intertainment Media Inc. (TSXV:INT / OTCQX:ITMTF / XETRA
FRA:I4T) (“Intertainment” or the “Company”) was informed that Poynt Corporation (“Poynt”), a corporation
headquartered in Calgary, Alberta, had filed with the Office of the Superintendent of Bankruptcy a Notice
of Intention to File a Proposal under the Bankruptcy and Insolvency Act (Canada) (“BIA”).
According to Poynt’s announcement released July 5, 2012, Poynt had terminated its previously
announced private placement.
As a result of the termination and failure to close the private placement, Poynt was unable to repay the
loan to Intertainment that matured July 5, 2012 in the total principal amount of CDN$1.5 million plus
applicable interest and fees that were originally advanced as of March 9, 2012.
The loan is secured by the assets of Poynt under a general security agreement and an IP receivables
assignment agreement, with the security interest duly perfected under the laws of Alberta. An event of
default has occurred automatically as a result of non-payment in the absence of any default notice being
given by Intertainment to Poynt.
The directors and management of Intertainment will work with their advisors to obtain the best possible
outcome for the Company and its shareholders in all applicable restructuring proceedings under the BIA.
About Intertainment Media Inc.
Intertainment is one of Canada’s leading technology incubators and is focused on developing, nurturing
and investing in both North American and global technologies and companies that provide technology
solutions for brands and consumers alike. Intertainment also owns and operates a number of key
properties including Ad Taffy, itiBiti, Ortsbo, Deal Frenzy and Magnum, with investments in leading edge
technologies and social media platforms including theaudience.com. For more information on